TruckPark Business Plan

2018 v1

TruckPark, Inc.

Business Plan

October 2018

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2018 v1

Table of Contents
1. Executive Summary 3

2. The Business 4

3. Products and Services 5

4. The Trucking Industry 7

5. Competition 10

6. Market Share and Sales 11

7. TruckPark Mobile Application 18

8. TruckPark Operations 20

9. Financial Plan 24

Appendix A – Year 1 - 5 Monthly Profit / Loss Statements 26

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1. Executive Summary

TruckPark Inc. was founded in January 2017 and is an innovative driver application which
enables truck drivers to locate and reserve parking spots along their routes in real-time.
Truck drivers are required to regularly rest due to federal regulations. Drivers faces
challenges in finding secure parking locations along routes. TruckPark’s mission is to
ensure that drivers are safe, engaged and stress-free as they navigate over the road.

TruckPark’s differentiation strategy is two-fold: safety and empowerment. The Federal Motor
Carrier Safety Administration (FMCSA) published the Electronic Logging Device (ELD)
mandate in December 2017. The ELD mandate is designed to increase safety for over-the-
road class 8 truck drivers. It requires an electronic logging device to be used to record
electronically a driver’s Record of Duty Status (RODS). This replaces the paper logbook used
by some drivers to record their compliance with Hours of Service (HOS) requirements.
Trucking fleets are required to implement approved ELDs to record HOS. HOS regulations
are designed to improve highway safety by keeping fatigued drivers off the road. HOS rules
state that drivers may not drive for more than 10 hours after 10 consecutive hours off duty.
Additionally, drivers may not drive more than 8 hours without a 30-minute, off-duty or sleeper
berth break. These rules mean that drivers traveling greater than 7 hours from home will
require some kind of parking facilities.

The ELD is advantageous to TruckPark’s strategy as it will drive more HOS compliance than
paper log books resulting in truckers having a desperate need of parking facilities as they
near their mandatory rest periods. With TruckPark, a driver can use the app to find and
secure safe parking facilities in advance or in real time to meet the Hours of Service (HOS) /
ELD compliance.

According to a recent report by the ATA (American Trucking Association) the driver deficit
could reach more than 150,000 before 2024. TruckPark aims to aid in driver retention
through the implementation of technology and opportunity. In addition to reducing stress over
finding convenient and safe parking.

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2. The Business

Truck parking is an important element of the United States’ transportation system, as it

provides truck drivers with safe places to rest and stage for deliveries. Demand for truck
parking spaces exceeds supply, and shortages are especially common in and around urban
areas. These shortages jeopardize public safety as they are associated with truck parking on
highway ramps and shoulders, parking in unsecure areas, and violations of truckers’
maximum hours of service.

In the United States as a whole, demand for truck parking exceeds supply, and parking
shortages are acute in certain areas. For example, all highways with an Average Annual
Daily Truck Traffic (AADTT) count greater than 1,000 have about 31,000 spots, but there is
demand for 287,000 spots on an average night, and 90% of truckers have experienced
difficulty finding parking. In the Midwest, the focus region for this paper, 76% of drivers have
reported difficulty finding parking on 30% or more of their trips.

In a recent American Transportation Research Institute (ATRI) survey, these carrier results
were confirmed. It was found that private truck stops are used for 56% of parking and public
rest stops are used for 44% of parking. Perceived difficulty of finding parking at these
locations continued to be an issue. The ability to find parking was rated equally difficult for
both public and private locations by 62.1% of drivers; 23.7% of respondents said private truck
stops were more difficult and 14.2% of respondents stated that public rest stops were more
difficult.

The ELD (Electronic Logging Device) mandate has increased the percentage of drivers
looking for secured parking locations since drivers are no longer able to park in their
assigned lots due to HOS. This has put drivers in unknown areas where they need to quickly
find a secured place to park, racing against time.

As freight tonnages increase, parking shortages, and their public safety and infrastructure
problems are likely to worsen. When truckers cannot easily find parking, they may engage in
unsafe parking practices, each of which has its own problems. Parking on highway ramps are
common. This practice is unsafe because it creates a collision risk for other motorists and it
damages roadway shoulders not designed to support the weight of a parked truck.

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Drivers may also find parking in unsecured vacant lots like malls or abandoned gas stations.
This exposes them to assault, robbery, and other crime. Finally, truckers unable to find
parking may continue driving beyond their legal maximum hours of service (HOS), which
means they are more likely to be fatigued and at risk of the dangers of drowsy driving.

Regardless of payment for parking, a clear majority of drivers off all types (local, regional,
inter-regional, and long-haul) prefer to reserve parking in major metropolitan areas over rural
or small metropolitan areas. This supports the perception that truck parking is more difficult to
access in major metropolitan areas than in urban areas as of now.

TruckPark is developing an application that will find and reserve parking in real-time for truck
drivers. The search for truck parking is an inefficient use of a driver’s time and increases fuel
and operating costs, impacting both HOS and the financial bottom line.

TruckPark was founded in January of 2017 by Anthony Petitte and began with two parking
facilities on the southside of Chicago. Since then, TruckPark has expanded its operations
across 16 parking facilities in other areas of Chicago, NJ/NYC and Texas. Expansion of
operations nationally, targeting both metropolitan and urban areas, will be developed once
TruckPark successfully validates the parking reservation business model.

3. Products and Services

TruckPark’s seamless driver application allows drivers to find and reserve spots in real-time.
In the process, TruckPark works exclusively with parking lot owners within the private sector
to ensure drivers a safe and secure place to park their truck for up to 24 hours. TruckPark
offers a unique solution to parking lot owners to mitigate risk and increase occupancy rates.
TruckPark will offer additional services such as:
 B2B Advertising of small to medium sized fleets
 Intelligence sensor inventory management in partnered parking facilities
 Increased revenue + market visibility to partnered parking facilities
 Online marketplace for truck drivers to rent and refer spaces in parking
facilities
 Membership rewards program for truck drivers to receive discounts +
rewards

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Target Customers of the TruckPark application are Commercial Truck Divers, Major Trucking
Companies, and Independent Truck Drivers located nationwide. TruckPark will focus on a
target market in the following areas to start:
 Chicago
 Atlanta
 Texas
 California
 New York

TruckPark will look to offer lot owner services that will intelligently track inventory of driver’s
arrival and departure in the lot. Over time this can be beneficial to insurance companies and
brokers as it is a tool to decrease premiums due to intelligent monitoring of inventory coming
in and out which increases security at no additional cost.

TruckPark customers are the Truck Drivers. Similar to AirBnB’s model of an online
marketplace for community renters; TruckPark offers a unique opportunity for drivers to refer
other driver’s rented spaces for a fee. The referred drivers will rent that space out from the
renters at a price of their choosing but relative to market costs.

TruckPark additionally will offer the Truck Driver a membership rewards program. The
program will allow the driver to receive discounts + rewards through various partnered
services. These discounts and rewards can include:
 Parking discounts at exclusive TruckPark locations i.e. $10 off your 1st
overnight stay (100 points added for rewards)
 Discounts on diesel fuel at TruckPark partnered fuel stations (50 pts)
 Discounts at TruckPark partnered Weigh Stations (10 points)
 Discounts at overnight lodging (AirBnB, Hotels, Motels) (up to 10000
points)
 Discounts at TruckPark partnered restaurants (25 points)
 Discounts at TruckPark partnered beverage locations (15 points)
 TruckPark membership rewards points can be redeemed at anytime for
prizes, gifts and even vacations.

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TruckPark has the advantage of revolutionizing the trucking industry. The transportation and
logistics industry is archaic and lacks the latest technological advances. There are many
areas to grow through technology since it is far behind most industries. Contingent on
application development, TruckPark can potentially offer a 360 solution to its drivers.

4. The Trucking Industry

Efficient trucking is an essential element of the United States’ economic success: in 2015,
trucks carried 63% of the nation’s freight traffic, about 11 billion tons of goods worth over
$13.2 trillion. Truck tonnage is forecasted to increase 44% by 2045, while the value of goods
carried by truck will increase by 84%. The trucking industry is an economic heavyweight, it
employs 2.6 million drivers, and an additional 7 million people in the industries that support
trucking.

One part of trucking infrastructure that is growing in importance is truck parking, which
includes publicly-owned rest stops and private, commercial truck stops. Truck stops and rest
stops serve important safety and economic purposes such as:
 Providing a safe stopping point for truckers to rest.
 Acting as staging areas for drivers making scheduled deliveries.
 About 31,000 spaces are provided by the public sector, with an
additional 167,000 to 284,000 held by the private sector.
 Support the 3.63 million class 8 trucks in operation today.

There are three public policies that impact the current parking shortage. First, are federal
HOS regulations, which are designed to improve highway safety by keeping fatigued drivers
off the road. HOS rules state that drivers may not drive for more than 10 hours after 10
consecutive hours off duty. Additionally, drivers may not drive more than 8 hours without a
30-minute, off-duty or sleeper berth break. These rules mean that drivers traveling greater
than 7 hours from home will require some kind of parking facilities.

The second policy is Jason’s Law, a portion of the Federal MAP-21 spending bill passed in
response to the murder of a trucker parked at an abandoned gas station. Jason’s Law made

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truck rest areas and parking areas available for federal highway funding. Finally, with
increasingly limited transportation funding, many states have sought to cut costs by closing
rest areas and weigh stations, exacerbating existing parking shortages.

Market phenomena also has an effect on parking demand. The forecasted 44% future growth
in truck tonnages will result in more trucks and increased demand for parking spots,
worsening current shortages. The rise of just-in-time inventories and scheduled deliveries are
also contributing to shortages, as drivers often need parking near destinations to wait for
appointed arrival times.

The problem of truck parking shortages arises from a variety of causes and has a range of
negative effects on safety and infrastructure. However, a simple fact remains: in many areas
there are not enough parking spaces. To solve these shortages, some policies seek to
increase parking, while others seek to improve truckers’ decision making with information on
parking availability.
Trucking has also increased productivity with the use of social media and trucker supplied
data. Software and mobile applications are created to serve this purpose. Mobile applications
are attractive and easy to implement because of the high number of drivers who utilize the
technology. In 2018, it is reported that 80.7% of Owner-Operators and 70.5% of company
drivers use smartphones.

For the market consumer segment; conditions driving the supply-demand imbalance likely
will change little in the coming months. Freight demand is projected to stay elevated, with the
economy predicted to remain strong. Still, the leading indicators for truckload demand
remains strong, including a declining consumer savings rate through 2017, growing retail
sales, and a moderating inventory to sales ratio.

While truckers generally pass-through roughly 30-40% of their rate increases to raise driver
wages, the current pass-through rate has risen significantly to 50-60%, and increases the
possibility that truckload carriers will see muted margin expansion in the near term.

A strong spot market will eventually pull contract rates up, with the potential for high-single
digit gains off a low base; shippers will try to react by being more effective ‘consumers’ of

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truckloads and switching to intermodal, but intermodal will be a smaller release valve than in
previous cycles. Refer rates and lanes with HOS cut off points will likely experience the most
pressure from ELD enforcement in 2018, but spot rates for all three trailer types have tracked
very closely since summer 2015.

American Trucking Associations' American Trucking Trends 2017 annual compendium of

data on the trucking industry reveals that the trucking industry generated $676.2 billion in
revenue last year, making up nearly 80% of the nation’s freight bill. Trucks moved 70.6% of
all domestic freight tonnage for a total of 10.42 billion tons of freight.

There were 33.8 million trucks registered for business purposes, of which 3.68 million were
Class 8 vehicles. Those trucks burned 38.8 billion gallons of diesel fuel and 15.5 billion
gallons of gasoline and traveled 450.4 billion miles.

The trucking industry employed 7.4 million Americans in 2017, nearly half of which were
drivers. Of those drivers, 6% are women and 38.7% are minorities.

As a whole, the trucking industry is primarily made up of small businesses; 91% percent of
motor carriers operate six or fewer trucks and 97% operate fewer than 20 (14).

The markets for medium- and heavy-duty trucks tend to expand in step with freight volume,
which rises and falls in line with the gross domestic product. Global GDP grew at over 5
percent annually from 2012 until 2017 (and will continue in the next 5 years), leading to an
increase in freight volume and, thus, growth in the truck markets (16). The more trucks on the
road, the less secure spots there are to park ..

A lack of adequate truck parking often prompts truck drivers to park on highway shoulders,
entrance or exit ramps, vacant property, or on local surface streets. These parking behaviors
can negatively impact highway safety, infrastructure condition, public safety, and quality of
life. Existing truck parking shortages may be exacerbated by current trends and future
changes to freight policies. The Arizona Department of Transportation collected data and
showed the results in a report about truck parking solutions in 2017. Some of their results
were trucking industry executives in Arizona, expect the difficulty of finding parking to
increase in the future as Electronic Logging Devices (ELD) are implemented, and as the

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volume of truck traffic increases faster than the development of dedicated truck parking
spaces.

5. Competition

TruckPark’s direct competitor, TruckerPath is a mobile application that is a trip planning

companion for truck drivers, enabling a large driver community to assist each other in
updating the real-time status of relevant points-of-interest on their route. It helps truckers find
truck stops, available parking spots, rest areas, scales, open DOT weigh stations, truck
washes and more. Expanding on the success of the TruckerPath app, TruckerPath also
introduced the Truckloads app, a mobile marketplace providing freight load matching with
over 3 million loads posted monthly. At present, Trucker Path has more than 600,000
monthly active users covering more than 33% of all U.S. long haul truck drivers and
maintains steady organic growth (15). This was until Renren, a Chinese company acquired
100% of the company in December 2017.

Park My Truck - Developed in 2018 by the non-for-profit NATSO foundation to allow any
parking provider--whether public or private--to report their parking availability for free through
this app; it doesn’t require any special technology except internet access. This will show
drivers who use the app how many spaces are available at truck stops, rest areas and other
parking facilities.

TruckParking USA - The mobile application works like this: While stopped, fellow drivers
report free parking spots near them, enabling other drivers to see the real-time availability of
places to park along their route. On particularly busy days, when parking along routes isn’t
available, they provide drivers with the best alternatives from their extensive database of
truck stops reviewed by the truck driver community.

The challenges that these three competitors face is that the parking availability is not
guaranteed and is leveraged off free public information such as # of spots at Truck Rest
stops, etc. TruckerPath relies on a social network of drivers to communicate if Truck stops
have spaces available or not.

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TruckPark will be solely focused on offering “guaranteed” truck parking, this is the TruckPark
key differentiator.

6. Market Share and Sales

Based on various industry reports and proprietary surveys and research, TruckPark
estimates the total U.S. truck parking market to be $5 billon. This estimate is based on a
composite of various trucking industry metrics including:
 300,000 total parking spots for more than 3 million trucker drivers on the
roadways (35,000 private parking spaces)
 60 min spent on average by truck drivers every day searching for parking
 $4,600 in lost wages every year, per ATRI
 The American Trucking Associations (ATA) reports a severe shortage with only
300,000 parking spots for more than 3 million truck drivers on the roadways
 15.5 million trucks operating in the U.S., of which 2 million are tractor trailers.
 3.5+ million truck drivers in the U.S., of which 11% are independent, a majority
of which are owner operators. Canada has in excess of 250,000 truck drivers.
 The Long-Distance Freight Trucking industry was estimated at $195 billion in
2018. In 2016, freight trucks moved almost 10.6 billion tons of freight, or 71% of
the annual total. This contribution is expected to increase through 2023, as
trucking will continue to be the most widely used mode of freight transportation,
followed by rail transportation.
 35,000 Private spaces broken down by US Region:
 Midwest – 8,980 spaces
 Northeast – 1,526 spaces
 South – 19,386 spaces
 West – 5,336 spaces

TruckPark projected sales will come from brokered parking lots and number of available
parking spaces which will be negotiated at a broker rate based upon size, scope, and parking
lot which varies by geographic location. Currently, the average rate for a short-term parking
space is $17 for 24 hours and the average rate for long-term parking is $175/month.

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TruckPark will look to contract with “Lots” a 30% fee for connecting truck drivers to open
parking spaces.

The TruckPark app will be free to users similar to three (3) competitors.
(Competition: TruckerPath App cost $1.99; TruckParking USA cost is free to users; Pilot
Flying J and Travel Centers of America (TA) both offer reservation systems through online
reservation systems; Park My Truck cost is free to users.)

TruckPark’s initial territory will be Chicago area and Midwest with two (2) salespeople.
Expanding into other areas with a focusing on the West first given the need for truck parking,
such as Texas, and California, eventually expanding into New York and other areas of the
country in years 2+.

TruckPark’s completive strengths are partnership in security private brokered lots. A rewards
system that is geared to improve the Truck Drivers quality-of-life as a driver.

Partnerships with brokered lot owners include:

 Market visibility at no cost

 Increased revenue
 Improved bottom financial line
 Management of inventory (trucks arrival and departure)
 Optional security
 Data tracking and analysis
 Expedited invoicing (48 hour payment)

TruckPark’s major weakness will be the ability to scale (cost) the mobile application fast
enough to meet demand. TruckerPath has a large % of market share however their
application/services is not addressing the truck parking challenges and quality-of-life
improvements for the Truck Driver.

Data at over 270,000 truck parking spots in 2016 showed that in the Western areas of
America, it is impossible for a truck driver to find truck parking nearby within 45 minutes.

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(https://truckerpath.com/blog/truck-parking-issue-can-cost-the-industry-5-billion-annually/)
TruckPark is currently partnered with Chicago 3PL’s to park their fleets in our secured lots,
and are strategic partnered with FrieghtRover – Indianapolis and TruckerSam – NY. These
entities are community and freight load board businesses, who will eventually point their
drivers to our exclusive lot locations.

TruckPark is also partnered with JPS Logistics who has agreed to have 120 of its drivers use
the TruckPark mobile application. Other major customers who are willing to make
commitments:

 Chicago Truck Parking (Chicago)

 Palumbo Management (Chicago)
 Industrial Outdoor Ventures (nationwide)
 Krauss Developers (Texas)

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Marketing Plan

TruckPark acts as a broker between lot owners and truck drives/fleet operators. TruckPark
has a unique application that will conveniently allow truck drivers to identify and reserve
parking spaces along their routes. TruckPark will have low fixed costs and overhead. Since
TruckPark serves as a premier broker to truck drivers and parking lot owners, there is little to
no liability and operational expenses such as assets and equipment.

TruckPark target customers are drivers in need of safe parking along their routes. Due to
high demand for truck parking, drivers have set high expectations for a solution that will meet
their needs and remain compliant under laws and regulations.

After achieving initial funding, TruckPark plans to build a salesforce involving regional sales
managers/reps who will handle an assigned territory (Midwest, East Cost, West Coast, etc.).
Their responsibilities will include but are not limited to partnering with lot owners, carriers,
fleet owners and independent drivers. Our current partners (mentioned above) are
community and freight load board businesses, who will eventually point their drivers to our
exclusive lot locations.

TruckPark will continue to expand our network by strategically partnering with parking lot
owners, load boards, 3PL’s, carriers, fleet owners, owner/operators and independent drivers.
Truck Drivers can use TruckPark to find and reserve parking in real-time, in advance and at a
discounted rate. TruckPark serves the market as the solution for long-term and short-term
parking. Rates vary by size, scope and parking lot. TruckPark will have low fixed costs and
overhead with most personnel costs being variable based on company performance.

TruckPark will achieve sales targets through overnight and month-to-month parking.
Additionally, through our list of ancillary services; trucker rewards program, advertisements,
insurance safety initiatives and maintenance vans.

Number of box retailer locations in the US:

 The Home Depot: 2,000

 Lowe’s: 2,394
 Menards: 305
 Target: 1,822

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Due to the age of “Amazon” and a surge in delivery services, large box retailers are
struggling to make ends-meet. An alternative solution to sustainability is increased revenue
through truck parking. These department stores already host an acre or more of private
parking, why not turn them into profit? This can help offset the costs of annual property taxes
as well.

TruckPark will need to work with city and village on an approval plan to allow truck parking at
these box retailers. Right now, due to regulations and restrictions, parking will be set on a
store-to-store basis.

Currently, Walmart has about 2,700 reported stores having truck parking out of 5,400.
(https://www.freightwaves.com/news/walmart-faces-50k-fine-for-allowing-truck-parking-at-
illinois-store)

Marketing Strategy

TruckPark customers targeted for initial selling effort will include parking lot owners (30%
occupancy rate), load boards, 3PL’s, carriers, fleet owners, owner/operators and
independent drivers. Concurrently, TruckPark will be working with channel partners, TPAs,
Logistic tracking vendors, and ancillary services such as truck repair businesses.

Customers targeted: Truck drivers (3.5 million), trucking companies; 3PL, 4PL, carriers,
intermodal, drayage, etc. Later selling effort will be through ancillary services; TP rewards
membership, TP referral program (AirBnB focus for lot referrals), advertisement campaigns
for lots and fleet management, safety initiative program with insurance companies, on-the-go
maintenance and repair, driver shortage recruitment services.

TruckPark’s objective is to accomplish:

1. Get as many truck drivers as users on the app
a. Market directly to drivers via Facebook, Instagram, social media channels
b. Market through partnering with their employers – create awareness through
the owners, operators

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c. Market through partnering with logistics companies, vendors, etc.

2. Get as many lots to offer their paid lots that we can take a % of
a. Sales team will broker lots
b. Market to lots through logistics companies, vendors etc.
c. Create an opportunity for an Airbnb model for lots to list their own spaces???
i. Targeted ads towards lots owners
ii. Targeted partnerships with vendors/logistics/etc.

Later selling effort methods will continue to expand on existing methods and customers,
eventually include advertisers to promote a one stop, all-inclusive app customers. Later
selling could include add-ons, paid advertisements, and partnerships

The free TruckPark app reservation system will allow drivers to reserve/book a spot in real-
time. The convenience of a guaranteed spot at a parking lot along their route is the turn-key
differentiator. This will solve the barrier – aggravated capacity crunch in an imminent ELD
enforced market.

Additionally, TruckPark offers the certainty versus uncertainty. Certainty is a crucial play in an
ELD market. Drivers will need certainty that they will have parking in advance to meet
compliance. Without certainty they will be subject to fines and CDL termination by April 1st,
2018. TruckPark provides peace of mind.

The ELD is advantageous to TruckPark’s strategy as it will drive more HOS compliance than
paper logbooks. That means truckers will need parking facilities as they near their mandatory
rest periods.

Opportunities are very high as the trucking industry is 24/7, 365 days a year and there
currently remains a gap in finding reliable real-time parking spaces in order to be ELD
compliant.

Sales Tactics

Sales Commission structure/pay will be determined by goals markets share for that region.
Following is a breakdown of sales projections, cost assumptions, and compensation model.

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Sales team projections for year 1

 Salespeople will sign up 4 lots per month with an average commission of

$1000.00
 Year 1 occupancy assumed to be .5% from June through December
 Year 2 occupancy assumed to be low at 1%
 Years 3+ occupancy assumed to be medium at 2%
 The average lot has 300 spaces to rent
 Price lot owners charge increases by $2 each year
 Assumes 100% success rate on sales people and 100% retention of
users/spots

Cost assumptions

 Salespeople assumed to be 1099s, not employees therefore no tax

withholding
 Salespeople will be paid a fixed fee for signing up lots based on lot size
 Salespeople will sign up 4 lots per month each. Average commission will be
$1,000
 No office space or equipment needed until 2019

Compensation Model for Salespeople

 < 500 spots =$1,500

 200-499 spots =$1,000
 50-199 spots =$750
 25-49 spots= $5000
 24 spots = $250

Salespeople added as follows:

 Year 1 = 2
 Year 2 = 4
 Year 3 = 6
 Year 4 = 8
 Year 5 = 10

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Advertising, Public Relations and Promotion

TruckPark’s image will be bought on fixing the industry challenges on truck parking. Once we
can attract drivers to our platform we will look to extend improving the driver experience
through a membership rewards program, truck maintenance / tire repair service partnerships.
TruckPark will market heavily on being a USA born company. We will focus on Social Media
Truck Park groups to as a form of advertising the TruckPark service. Additionally, TruckPark
will attend trucking trade shows across the country and place strategic advertisements
across truck stops.

7. TruckPark Mobile Application

The TruckPark Parking Lot Reservation System will allow truck drivers to efficiently plan and
reserve parking spots prior to arrival at the lot. Truckers will become repeat users since the
system will improve their quality-of-life by reducing the frustrations of unproductive stops
which in turn saves time and money from ELD violations. The driver app will also help drivers
find the parking facilities that offer the amenities that are most important to them. Further, the
system will streamline the payment process for the drivers.

The central nervous system of the TruckPark solution will be the backend system, which will
be built using hosted, cloud-based backend software, database technology, and an API
interface layer. The user experience of the drivers will be delivered via native iOS and
Android mobile apps. Internal TruckPark administrative users will access the system via a
web-based interface from any desktop that supports an Internet-connected browser.

TruckPark is able to develop the MVP/Proof of Concept mobile application including back
end applications within various iterations of time and cost. The most ideal solution would be a
16-week delivery that would include staffing “Development Team 2” below. TruckPark
Wireframes have been completed for the application
(https://projects.invisionapp.com/share/39KGO20ZYA2#/screens).

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Future technology opportunities include:

 Lot management (inventory) technology for lot owners.

 Clevercity - technology (US office in Lake Forest) installation of cameras with
built in sensor technology to manage arrival and departure of parking inventory.
The sensors take snapshots and scan license plates to backend database.

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8. TruckPark Operations

TruckPark is a parking inventory and booking platform that connects truck drivers with safe
and convenient parking facilities nationwide. TruckPark operates as wholly owned business
in the state of Illinois servicing 20 secure truck yards across 4 states and growing. We stand
out from our competition by empowering our driver community in which we provide an
unparalleled experience. This is done through a list of ancillary services including a rewards
program exclusively for truck drivers, a unique referral program, on-the-go maintenance and
repair services, advertisement campaigns for our large and small fleets, recruitment services
solving the driver shortage and our signature safety program working with insurance
companies to mitigate risk on and off the road.

We pride ourselves with our customer service. Our mission is to provide an unmatched
experience and that starts by having 24/7 professionally trained personal answering truck
driver’s needs and enhancing their experience. We only use real-people and never an
automated voice prompter. Same goes with tech support; you have a problem using our
app? Just call us.

Lot management is non-existent. It’s almost impossible to handle arrival and departure. Not
with TruckPark. We partnered with the best to solve this problem. We provide technology that
manages arrival and departure of truck drivers - mitigating risk in the lot and for driver’s
protecting their load. Our lot partners can now rest easy and manage their inventory more
efficiently.

TruckPark will operate as a lean organization, there will be no offices necessary. All
TruckPark employees will work remotely. TruckPark will outsource services such as mobile
development, call center support, etc.

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Organizational Structure
TruckPark’s management team is made up of six board of directors which includes two
founders who co-own the company.

Anthony Petitte, CEO & Founder has a much-diversified portfolio in the SMB and Enterprise
market. Before graduating from Kendall College with a Bachelor of Science in Hospitality
Management, he worked at a boutique technology firm building and optimizing internet
startups. In his 6-year tenure as a Digital Marketer, he led the company to new altitudes
bringing in over $1M in revenue just at the age of 22. In the last 4 years, Anthony has worked
in the C-suite executive search industry placing top talent and working to increase retention
in Fortune 500, Private Equity and Manufacturing corporations. Now 26, Anthony is the Chief
Executive Officer and Founder of TruckPark Inc. an early-stage startup that will empower
truck drivers globally.

Joshua Walls, COO & Co-Founder is a passionate and proven leader with multifaceted
expertise. His extensive experience in strategic planning, leading organizational change that
aligns with business objectives, coaching and mentoring teams allowed him to receive the
distinguish Neiman Marcus Leader of the Year Award. He successfully developed and
implemented an engagement tool to improve employee engagement and the customer
experience which reduced turnover and enhanced the customer experience. He has
recruited, trained, mentored, coached and managed an energetic team of 50 sales leaders

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and two direct reports while generating 12 million in revenue at Neiman Marcus. Joshua
earned his BA Psychology from Trinity International University and MA in Organizational
Leadership Training and Development from Lewis University. Joshua serves as TruckPark’s
Chief Operating Officer and Co-Founder alongside Anthony, managing all operations and
strategic partnerships.

Craig George, CIO has served as the Chief Information Officer (CIO) at various
organizations. Responsible for all of TruckPark’s Information Technology (IT), cybersecurity
program, risk management and data privacy and security compliance. Mr. George has more
than 12 years’ experience managing all aspects of information technology in transformation
environments in Healthcare, Advertising, Market Research and Consulting Services
industries. His breadth of IT expertise spans across various technology areas including
service management, project management, governance, compliance, risk management,
infrastructure, and solution implementation with specialties in incident response, vulnerability
management and security solution/tool implementation and analysis. He has a B.S. in
Network Communications from DeVry University and an MBA and Project Management
Master’s degree from Keller Graduate School of Management.

Jared Smith, Chief Growth Officer brings extensive experience in strategic partnership
management and business development. Jared has driven successful results in small,
medium and large organizations. His passion for building, maintaining, and leveraging strong
relationships has been the key to his success. Jared’s thought leadership has brought
opportunities for new business development and has been effective in managing change
necessary for innovation, growth, and retention. Jared has shared his expertise through
consulting and mentoring. In early 2017 Jared co-founded the Chicago Downtown
Associations of Health Underwriters (CHAHU), one of the fastest growing national NAHU
chapters. He currently serves as co-president. In December 2017, Jared was featured in the
article in America’s Benefit Specialist, The Chapter of the Future: How the Downtown
Chicago AHU Was Formed. In July 2017, he was featured in the article in BenefitsPRO,
Every Day is Different. Jared’s most recent role is a National Partnership Manager at
Interactive Health, Inc. Jared holds a Bachelor of Science degree in Business Administration,
with a concentration in finance from the University at Buffalo, Buffalo, NY. Jared serves as

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TruckPark’s Chief Growth Officer and is responsible for creating strategic partnerships,
focusing on resources, broadening the company’s insights and discovering new pathways to
growth.

Culture
At Truck Park we pride ourselves on providing exclusive TruckPark locations for truck drivers
Truck Park empowers drivers to engage their profession with passion and purpose. We are
the premier destination for world class trucking experience. Our mission is to ensure that our
drivers are safe, engaged and stress free as they navigate throughout the world.

Legal Structure/Organization
TruckPark, Inc. is registered in the state of Illinois as a corporation.
TruckPark Inc. is legally represented by Perkins Coie of Chicago located at 131 S Dearborn
St #1700, Chicago, IL 60603. The two attorneys who represent TruckPark as high counsel
are:
1. Matthew Klomparens - Associate Attorney
2. Peter G. Lawrence - Partner

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9. Financial Plan

TruckPark’s financial plan is conservative and achievable and represents a tremendous

growth opportunity for its current and potential investors. The projected financial plan is
based on several key factors:
 There is a dire need in the marketplace (as discussed above) for this service; the
continually evolving regulatory landscape and legislative rules and regulations will
further drive up the need for TruckPark’s services.
 There are no competitors in the market today that provide the broad suite of
services to the trucking community that TruckPark plans to offer.
 Obtaining contracts with lot owners is a winning proposition as it gives lot owners
great upside to rent unused spaces for little to no initial outlay or fixed costs.

TruckPark will earn revenue through short-term and long-term truck parking. Additional,
revenue will be secured through mobile application advertisements.

TruckPark expects to be profitable in Year 1, with a low operating cost of only $450,000. The
majority of the startup expenses resulting from the mobile application devolvement and
expectations that the mobile application will grow rapidly and significantly. An additional,
$150,000 will be secured for the potential need of rapidly scaling of the mobile application.

TruckPark must secure $600,000 for start-up funding.

Year 1 Financial Summary

Short-Term Parking

For Year 1, TruckPark will look to acquire estimated 9,000 spaces. Today, TruckPark has
contracted with 14 private lots that have an average of 250 spaces available each day. The
average price to park per spot is $20 (24 hours/overnight).

TruckPark estimates an average of $6 revenue per booked space by applying a 30%

contracted brokerage fee to the lots for each spot reserved. We estimate that 2% of spaces
per each lot will be booked through the mobile app at any time.

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Growth of Short-Term parking will be acquired through securing 4 lots per month with an
average lot size of 250 spaces.

TruckPark estimates total Short-Term parking revenue to be $475,000 in Year 1.

Long-Term Parking

TruckPark estimates that within the current 14 lots contracted, 10 of the spots will be secured
through Long-Term parking needs (monthly trailer parking). We estimate 10 additional spots
per month will be reserved through Long-Term parking needs.

The estimated average price per month for Long-Term parking is $150, TruckPark applies
the same 30% brokerage fee for each spot reserved and estimates an average of $45 for
each spot reserved.

We estimate the total long-term parking revenue to be $185,000 for year 1.

5 Year Financial Summary

Projections - 2019 to 2023 2019 2020 2021 2022 2023

Revenue
Parking Reservations (Short-
term) $274,320 $2,832,720 $7,017,120 $13,046,880 $20,922,000
Growth of Occupancy Rate 2% 4% 6% 8% 10%

Parking Reservations (Long-

term) $186,300 $842,400 $1,976,400 $3,585,600 $5,670,000
Growth of Occupancy Rate 10% 20% 30% 40% 50%

Ancillary Services - mobile ads $12,000 $30,000 $60,000 $120,000 $240,000

Total Revenue $472,620 $3,705,120 $9,053,520 $16,752,480 $26,832,000

*See Appendix A – for Detailed Monthly Years 1-5 Profit and Loss statements

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Appendix A – Year 1 - 5 Monthly Profit / Loss Statements

Year 1

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Year 2

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Year 3

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Year 4

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Year 5

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